Sydney Property Auction Results August 4th, 2018

Sydney Property Market Auction Results – August 4th, 2018

 

Property snapshot
Listed auctions: 378
Reported auctions: 223
Sold: 159
Withdrawn: 58
Cleared: 57%
Total sales: $125,976,500
Median: $1,148,000
Source: Australian Property Monitors

 

Saturday was another interesting day at Sydney’s property auctions. Currently you don’t know what the auction clearance rate will be, however you can be fairly confident that buyers are reticent to bid at auction. I anticipate that the amount of properties listed for auction will remain low as agents will choose to sell via private treaty rather than auction. This weekend there were 39 fewer properties listed for auction than the week prior. However the same amount of properties (159) sold this week and last week. The auction clearance rate increased to 57% and approximately $8 million more in property sold this week.

The highest priced sale of the week was a Bronte home that sold for $4.116m. The rest of the top five sales were all in the mid $2m’s. This is a considerable drop from previous weeks’ top 5 sales.

Top 5 Reported Auction Sales this week:

  • 5 Alfred St, Bronte sold for $4.116m. This deceased estate in original condition needs some TLC but it does have a lot of potential. On a 560 sqm corner block, it has potential water views from a second storey.
  • 26 Magarra Place, Seaforth sold for $2.53m. This solid brick home has Middle Harbour water views and is on 820 sqm.
  • 45/110-116 Alfred St South, Milsons Point sold for $2.45m. This spacious 3 bedroom unit has harbour views from most rooms and is located near the train station.
  • 19 Wilshire Ave, Cronulla sold for $2.4m. This 5 bedroom home with a rear northern aspect had a realistic price guide of $2.3m-$2.4m and it sold at the top of the guided price range.
  • 45 Dillon St, Paddington sold for $2.4m. This tastefully renovated 3 bedroom, 2 bathroom terrace without parking has a north aspect to rear and is on 127 sqm.

Until next week.

Bernadette

5 Alfred St, Bronte

 

45 Dillon St Paddington

 

19 Wilshire Ave Cronulla

 

45/110 Alfred St, Milsons Point

 

26 Magarra Place Seaforth

 

Bernadette Brennan is the Principal and founder of Premier Home Finders, a specialist real estate buyers agent located on Sydney's lower north shore.